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FM

Forward Management Portfolio holdings

AUM $907M
1-Year Est. Return 0.46%
This Fund
S&P 500
This Quarter Est. Return
+0.25%
1 Year Est. Return
+0.46%
3 Year Est. Return
+36.88%
5 Year Est. Return
+52.96%
10 Year Est. Return
–
AUM
$1.54B
AUM Growth
+$322M
Cap. Flow
-$50.9M
Cap. Flow %
-3.3%
Top 10 Hldgs %
43.87%
Holding
405
New
61
Increased
102
Reduced
104
Closed
42

Top Buys

Rank Stock Value
1
DLR icon
Digital Realty Trust
DLR
+$21.5M
2
EEM icon
iShares MSCI Emerging Markets ETF
EEM
+$15.1M
3
AEC
ASSOCIATED ESTATES REALTY CORP
AEC
+$8.66M
4
DRE
Duke Realty Corp.
DRE
+$7.86M
5
MPT
Medical Properties Trust
MPT
+$5.96M

Top Sells

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$35.1M
2
SUI icon
Sun Communities
SUI
+$19.9M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$11.4M
4
RPAI
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
+$11.3M
5
SVC
Service Properties Trust
SVC
+$10.5M

Sector Composition

Rank Sector Weight
1 Real Estate 39.94%
2 Healthcare 3.37%
3 Financials 2.13%
4 Energy 2.13%
5 Industrials 1.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFX icon
376
Teleflex
TFX
$5.96B
– –
-6,617
Closed -$513K
TLK icon
377
Telkom Indonesia
TLK
$14.4B
– –
-194,710
Closed -$4.16M
TU icon
378
Telus
TU
$16.2B
– –
-371,062
Closed -$5.26M
UNP icon
379
Union Pacific
UNP
$179B
– –
-8,000
Closed -$626K
URI icon
380
United Rentals
URI
$65.5B
– –
-2,500
Closed -$112K
WSO icon
381
Watsco Inc
WSO
$15.3B
– –
-7,000
Closed -$587K
CGRN
382
DELISTED
Capstone Green Energy Corporation Common Stock
CGRN
– –
-100
Closed -$24K
XONE
383
DELISTED
The ExOne Company
XONE
– –
-2,800
Closed -$147K
HWCC
384
DELISTED
Houston Wire & Cable Company
HWCC
– –
-29,929
Closed -$414K
PIR
385
DELISTED
Pier 1 Imports, Inc.
PIR
– –
-500
Closed -$235K
BMS
386
DELISTED
Bemis
BMS
– –
-22,601
Closed -$885K
ESRX
387
DELISTED
Express Scripts Holding Company
ESRX
– –
-8,650
Closed -$534K
LHO
388
DELISTED
LaSalle Hotel Properties
LHO
– –
-9,500
Closed -$235K
MON
389
DELISTED
Monsanto Co
MON
– –
-6,500
Closed -$568K
INN.PRC.CL
390
DELISTED
Summit Hotel Properties, Inc.
INN.PRC.CL
– –
-383,500
Closed -$9.3M
ACAT
391
DELISTED
Arctic Cat Inc
ACAT
– –
-5,000
Closed -$225K
AVG
392
DELISTED
AVG Technologies N.V.
AVG
– –
-15,000
Closed -$292K
AXLL
393
DELISTED
AXIALL CORP COM STK (DE)
AXLL
– –
-5,000
Closed -$213K
BCA
394
DELISTED
CORPBANCA SPONSORED ADR REPSTG (1-1,500)COM STK
BCA
– –
-27,300
Closed -$467K
FSL
395
DELISTED
FREESCALE SEMICONDUCTOR LTD
FSL
– –
-10,000
Closed -$136K
CYN
396
DELISTED
CITY NATIONAL CORPORATION
CYN
– –
-7,165
Closed -$454K
ZQK
397
DELISTED
QUICKSILVER,INC.
ZQK
– –
-20,000
Closed -$129K
AVNR
398
DELISTED
AVANIR PHARMACEUTICALS, INC CL A
AVNR
– –
-68,000
Closed -$229K
RFMD
399
DELISTED
RF MICRO DEVICES INC
RFMD
– –
-50,000
Closed -$268K
NYX
400
DELISTED
NYSE EURONEXT INC
NYX
– –
-19,492
Closed -$807K
13 14 15
16
17

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AEPI
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H6H
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Forward Management's Q3 2013 Portfolio in Review

As of Q3 2013, Forward Management held 405 positions worth $1.54B, up 26% from $1.22B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Forward Management withdrew a net $50.9M in Q3 2013, closing 42 positions and reducing 104 holdings. Its most notable exit was Sun Communities, an estimated $19.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, down from 51% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Forward Management opened a new position in iShares MSCI Emerging Markets ETF worth $15.5M.

  • Forward Management's largest Q3 2013 buy was iShares MSCI Emerging Markets ETF: 380,978 shares worth $15.5M.
  • Forward Management added most to Digital Realty Trust in Q3 2013, an estimated $21.5M increase.
  • Forward Management's biggest Q3 2013 reduction was State Street SPDR Bloomberg 1-3 Month T-Bill ETF, cutting an estimated $35.1M.
  • Forward Management fully exited Sun Communities in Q3 2013, selling an estimated $19.9M.
  • Forward Management's ten largest holdings make up 44% of its $1.54B portfolio in Q3 2013.
  • Forward Management opened 61 new positions and closed 42 in Q3 2013.
  • Forward Management's portfolio value rose 26% quarter-over-quarter to $1.54B.

Based on Forward Management's 13F filing for Q3 2013, filed 6 Nov 2013.